Reading Time: 2 minutes
Next Generation Lotteries (NGL) is pleased to announce the acquisition of Novomatic Lottery Solutions (NLS) from NOVOMATIC AG. The acquisition was closed on October 31st 2019 in Vienna and from the 1st of November 2019 NGL will be the sole shareholder and owner of the NLS Group, including all intellectual property, all subsidiaries, and all existing NLS contracts. NGL was formed around a vision to leverage existing systems and commodity components to deliver cost-efficient solutions for lottery license holders, the acquisition of NLS is a giant leap towards realizing this vision.
“It is our true privilege to have acquired what is said to be the most modern lottery system in the world and the services of the talent that created it. What we have acquired today is more than a company, it is a more than the intellectual property developed with great ingenuity by passionate professionals over 20+ years.” – said Mr. Hans Vigmostad, CEO of NGL. “I am convinced that this acquisition, with the new vigor we intend to bring to the company, will accelerate our growth, revitalize the development of NLS’ product portfolio, grow existing business and allow us to win new business. It’s time to prove that this is the most modern lottery system.” – he concluded.
Mr. Ryszard Presch, COO of NOVOMATIC said: “We are pleased that NLS will remain in good hands after many years of development work and significant investments. There is a perfect strategic fit of both companies and the experienced team of Next Generation Lotteries has a convincing concept for further development of NLS. Moreover, it was important to us to pay attention to the existing jobs and that Austria will remain the company´s headquarter.“
NGL is keeping the existing NLS locations in Austria (HQ), Serbia, Iceland, Tunisia and Spain in addition to NLG’s own offices in Norway and Germany.
While the company’s first priority is to support NLS’ customers and provide them with best-of-breed products and solutions required for their long-term success, NGL will put emphasis on the business development activity. NLS is now once again ready and eager to grow its existing business, enter into new partnerships and win new business.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Next Generation Lotteries Acquires Novomatic Lottery Solutions And Sets Sights On Market Growth
